US based water and theme park operator Cedar Fair has retained Merrill Lynch & Co. to assist with the potential sale of some of its properties and to explore other strategic alternatives.
Commenting on the move, CEO Dick Kinzel said: “We continue to be committed to reducing debt. Exploring the sale of certain assets is a proactive step towards strengthening our financial position over the long term.”
Cedar Fair owns and operates six outdoor water parks and an indoor water park, as well as 11 amusement parks and five hotels. The company earned US$5.7m on $996m of revenue last year.